General Mills (GIS) Price Target Increased to $52.00 by Analysts at JPMorgan Chase & Co.
General Mills (NYSE:GIS) had its price target upped by JPMorgan Chase & Co. from $43.00 to $52.00 in a report published on Thursday, The Fly reports. The firm currently has a neutral rating on the stock.
GIS has been the subject of several other research reports. Jefferies Financial Group reiterated a buy rating and set a $55.00 price target on shares of General Mills in a research note on Wednesday, March 20th. Morgan Stanley set a $41.00 price objective on General Mills and gave the stock a hold rating in a research report on Friday, December 21st. Wells Fargo & Co set a $46.00 price objective on General Mills and gave the stock a buy rating in a research report on Thursday, December 20th. Guggenheim reissued a buy rating on shares of General Mills in a research report on Tuesday, February 26th. Finally, Piper Jaffray Companies reissued an average rating and set a $47.00 price objective on shares of General Mills in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. General Mills presently has an average rating of Hold and an average price target of $49.91.
GIS opened at $50.74 on Thursday. The stock has a market cap of $30.38 billion, a PE ratio of 16.32, a P/E/G ratio of 2.24 and a beta of 0.77. General Mills has a 52-week low of $36.42 and a 52-week high of $50.98. The company has a quick ratio of 0.36, a current ratio of 0.55 and a debt-to-equity ratio of 1.61.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.96 annualized dividend and a dividend yield of 3.86%. General Mills’s dividend payout ratio is presently 63.02%.
In related news, insider Shawn P. Ogrady sold 118,152 shares of the business’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $48.50, for a total transaction of $5,730,372.00. Following the completion of the transaction, the insider now owns 187,891 shares of the company’s stock, valued at approximately $9,112,713.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Kerry Clark sold 7,849 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $44.26, for a total value of $347,396.74. Following the transaction, the director now directly owns 30,215 shares of the company’s stock, valued at approximately $1,337,315.90. The disclosure for this sale can be found here. Insiders have sold a total of 246,723 shares of company stock valued at $11,812,064 in the last three months. 0.59% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Acima Private Wealth LLC acquired a new position in General Mills in the 4th quarter valued at approximately $29,000. We Are One Seven LLC acquired a new position in General Mills in the 4th quarter valued at approximately $30,000. BDO Wealth Advisors LLC acquired a new position in General Mills in the 4th quarter valued at approximately $37,000. Legacy Financial Advisors Inc. raised its holdings in General Mills by 80.2% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,294 shares of the company’s stock valued at $50,000 after acquiring an additional 576 shares in the last quarter. Finally, G&S Capital LLC raised its holdings in General Mills by 27.8% in the 4th quarter. G&S Capital LLC now owns 1,403 shares of the company’s stock valued at $55,000 after acquiring an additional 305 shares in the last quarter. 68.19% of the stock is owned by hedge funds and other institutional investors.
About General Mills
General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates in five segments: North America Retail; Convenience Stores & Foodservice; Europe & Australia; Asia & Latin America; and Pet. It offers ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, frozen pizza and pizza snacks, grain, fruit, and savory snacks, as well as organic products, including refrigerated yogurt, nutrition bars, meal kits, salty snacks, ready-to-eat cereal, and grain snacks.
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